New Age Alpha Advisors LLC Buys New Holdings in Dycom Industries, Inc. (NYSE:DY)

New Age Alpha Advisors LLC purchased a new position in shares of Dycom Industries, Inc. (NYSE:DY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,834 shares of the construction company's stock, valued at approximately $1,015,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Dycom Industries by 4.0% during the 3rd quarter. State Street Corp now owns 1,158,585 shares of the construction company's stock worth $228,357,000 after acquiring an additional 44,321 shares during the period. FMR LLC raised its stake in Dycom Industries by 2.4% during the third quarter. FMR LLC now owns 772,666 shares of the construction company's stock worth $152,292,000 after purchasing an additional 17,862 shares during the period. Hill City Capital LP raised its stake in Dycom Industries by 2.3% during the third quarter. Hill City Capital LP now owns 679,784 shares of the construction company's stock worth $133,985,000 after purchasing an additional 15,000 shares during the period. Principal Financial Group Inc. boosted its holdings in Dycom Industries by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 666,051 shares of the construction company's stock valued at $131,278,000 after purchasing an additional 27,370 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Dycom Industries by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 650,883 shares of the construction company's stock valued at $128,315,000 after buying an additional 9,113 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

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Dycom Industries Trading Down 6.3 %

DY traded down $9.39 during mid-day trading on Friday, hitting $138.55. 646,011 shares of the stock were exchanged, compared to its average volume of 384,250. The firm's fifty day moving average is $166.92 and its two-hundred day moving average is $179.09. Dycom Industries, Inc. has a 1-year low of $133.00 and a 1-year high of $207.20. The company has a market cap of $4.02 billion, a PE ratio of 18.23, a PEG ratio of 1.29 and a beta of 1.34. The company has a current ratio of 3.12, a quick ratio of 2.93 and a debt-to-equity ratio of 0.89.

Dycom Industries declared that its board has approved a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Dycom Industries news, Director Peter T. Pruitt, Jr. sold 2,900 shares of the business's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $175.08, for a total value of $507,732.00. Following the completion of the transaction, the director now owns 14,533 shares in the company, valued at $2,544,437.64. The trade was a 16.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.28% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DY shares. KeyCorp reduced their price target on shares of Dycom Industries from $229.00 to $201.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on Dycom Industries from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday. Raymond James increased their price target on Dycom Industries from $210.00 to $215.00 and gave the stock a "strong-buy" rating in a report on Tuesday, February 4th. Finally, B. Riley cut their price objective on Dycom Industries from $234.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dycom Industries presently has an average rating of "Buy" and a consensus price target of $202.50.

Dycom Industries Profile

Dycom Industries, Inc provides specialty contracting services to the telecommunications infrastructure and utility industries in the United States. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; wireless networks in connection with the deployment of macro cell and new small cell sites; and program and project management and inspection personnel.